According to the Daily Beast, a freelance reporter who used to work for Newsweek and be a columnist at the New York Times and the Washington Post was caught using the credentials to fraud-free merchandise and international travel from ersatz reporting subjects.
Jerry Guo, who considers himself a “modern nomad”, was arrested on November 9, by FBI agents in Puerto Rico for allegedly stealing over $3.5 million in bitcoins (BTC) from various startups that hired him for consulting.
The Daily Beast states that a federal judge in San Juan ordered Guo’s transfer to San Jose, California, where Guo is about to face the eight-count indictment, which may cost him a sentence of up to 20 years in prison.
It’s worth noting, that Guo is not the only one who tried to make a fast buck on a crypto hype. For example, recently ICO DRC and REcoin organizer, Maksim Zaslavskiy, has admitted lying to approximately 1,000 investors.
But it also should be pointed out that separate individuals are far from being the only source of crypto fraud. Poland police, for one, seized approximately $11.6 million from DasCoin platform for scamming users with fraudulent investments.
Earlier, British Bussiness Financial Authority (BBFA) along with the Baker Botts law firm, Novum Insights venture capital fund, and TodaQ crypto exchange have presented their own report on how to regulate the problems of the industry such as volatile prices, lack of consumer protection, high risks of becoming a victim of a cyber attack and money laundering is concentrated around bitcoin and what's more, can end up punishing any other crypto assets.
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